Fidessa LatentZero announces direct access to NYFIX’s Euro Millennium through Minerva OEMS
London, 18th August 2008 - Fidessa LatentZero, one of the world's leading providers of front-office software to the buy-side, has announced that its interface with NYFIX's Euro Millennium is now live. Users of Minerva, Fidessa LatentZero's Order and Execution Management System (OEMS), will now have direct access to one of the first truly open European dark pools for listed cash equities.
Euro Millennium is open to buy-side and sell-side market participants and offers a continuous matching pool, executing orders in accordance with client-determined profiles. The interface with Minerva OEMS will enable Fidessa LatentZero's clients to seek out best prices with minimal market impact.
Chris Gregory, Head of Connectivity Services at Fidessa LatentZero, said: "The addition of Euro Millennium is one component of Fidessa LatentZero's ongoing strategy to provide broker and venue neutral Intelligent Liquidity Access to buy-sides globally. The range of new venues including dark pools as well as MTFs and ATSs introduced with the implementation of MiFID offer different trading options to asset managers who are looking to manage their order flow in increasingly sophisticated ways. The combined order and execution management capabilities of Minerva OEMS, along with our managed connectivity network, LTN, enables buy-sides to be more involved in the whole trading process, and to take more control of execution quality."
"We're excited that Fidessa LatentZero's Minerva client base now has direct access to Euro Millennium," said Chris Smith, Director, NYFIX International. "We're confident that the depth and breadth of liquidity in Euro Millennium will help these clients achieve their best execution objectives by ensuring minimal market impact and delivering price improvement."
Minerva OEMS provides a complete full asset buy-side order management and trading environment. It includes real-time position keeping and P&L, portfolio analysis and drill down, order management workflows, and pre and post trade investment compliance, and meets the demands of global regulators and directives. Support is provided for equities, fixed income, money markets, foreign exchange and listed and OTC (credit and equity) derivatives. It provides single-click, low-latency connectivity from the blotter to more than 300 brokers, plus global DMA destinations, and connectivity to all major ECNs and alternative trading systems.
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated multi-asset trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world's largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa's global network carries over 130 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between over 1,800 buy-sides and 310 brokers across 100 markets worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto, San Francisco and the Bahrain, Fidessa group serves 22,000 users across 600 clients globally. Fidessa group was founded in 1981, has revenues of around US$350m, employs over 1,200 people and has been fully listed (LSE:FDSA) since 1997.
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